Coromandel Engineering accepts resignation of independent director

0 min read | Published on 03 Sept 2026, 10:35 PM |Updated on 03 Sept 2026, 10:35 PM

Reviewed by

Naman SScanX News Team

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Key Highlights

Ms. Rajendran Stella Isabella resigns as Independent Director effective September 3, 2026
Resignation cites professional commitments and inability to devote adequate time
She exits Audit, Stakeholders Relationship, and Nomination & Remuneration Committees
Filing made under Regulation 30 of SEBI Listing Obligations Regulations, 2015
No material reasons for resignation other than those disclosed in the letter

*this image is generated using AI for illustrative purposes only.

Coromandel Engineering Company accepted the resignation of Ms. Rajendran Stella Isabella as Independent Director, effective from the closure of business hours on September 3, 2026.

The company disclosed the development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ms. Isabella cited other professional commitments and pre-occupancy as the reason for stepping down, confirming she would be unable to devote adequate time to her board responsibilities.

Committee Exits

Upon her resignation, Ms. Isabella ceased to hold membership in several key board committees. She stepped down from the Audit Committee and the Stakeholders Relationship Committee. Additionally, she resigned from her role as Member cum Chairperson of the Nomination and Remuneration Committee.

Regulatory Disclosures

The filing included a disclosure pursuant to Schedule III - Para A(7B) of Part A of the Listing Regulations. This was issued in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Ms. Isabella confirmed that there were no material reasons for her resignation other than those stated in her letter. The filing noted that she continues to serve as an Independent Director at W S Industries (India) Limited.

Historical Stock Returns for Coromandel Engineering Company

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.11%	+12.25%	-9.97%	-36.94%	0.0%	+88.24%

How quickly will Coromandel Engineering Company appoint a replacement Independent Director to maintain board quorum and regulatory compliance?

What impact might the departure of the Chairperson of the Nomination and Remuneration Committee have on upcoming executive compensation reviews or succession planning?

Will Ms. Isabella's continued role at W S Industries (India) Limited create any potential conflict of interest or competitive concerns for Coromandel Engineering?

Coromandel Engineering Company

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Coromandel Engineering confirms no deviation in use of preferential allotment proceeds

1 min read | Published on 12 Aug 2026, 08:06 PM |Updated on 12 Aug 2026, 08:06 PM

Reviewed by

Shriram SScanX News Team

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Key Highlights

Coromandel Engineering Company Limited reported no deviation in the use of proceeds from its ₹6.61 crore preferential equity issue for Q4 FY26. Only ₹13,110.89 was utilized during the quarter for general corporate purposes and project-related guarantees. The Audit Committee approved the compliance statement.

*this image is generated using AI for illustrative purposes only.

Coromandel Engineering Company Limited confirmed on August 12, 2026, that there has been no deviation or variation in the use of proceeds from its preferential allotment of equity shares for the quarter ended June 30, 2026. The disclosure was made pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company raised ₹6,60,76,092 through the allotment of 16,49,840 equity shares on May 8, 2025. For the quarter under review, Coromandel Engineering utilized ₹13,110.89 from these funds. The proceeds were allocated towards general corporate purposes, upcoming projects, and the execution of bank guarantees, performance guarantees, and advances related to projects.

Utilization Details

The following table outlines the financial details of the fund raising and utilization:

Metric:	Details
Amount Raised:	₹6,60,76,092
Shares Allotted:	16,49,840
Date of Raising:	May 8, 2025
Funds Utilized (Q4 FY26):	₹13,110.89
Deviation Status:	No

Regulatory Compliance

The statement confirming no deviation in the utilization of proceeds was reviewed and approved by the Audit Committee at its meeting held on August 12, 2026. G V Manimaran, Chairman and Managing Director, and A K Babu Ismath Razack, Chief Financial Officer, signed off on the disclosure.

The company stated that no approval is required to vary the objects of the issue as stated in the offer document, as there has been no deviation. Consequently, no comments from auditors were applicable.

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